Treasurer Jim Chalmers said ‘there are too many properties empty around Australia’ as tight supply leaves many renters struggling to find somewhere to live.
Haven’t read the article- does it explain why are there so many empty properties? I didn’t know this was a thing. I’m glad they’re finally coming along with regulations though
The bogeyman reason is investors (and especially Chinese investors).
Suspect the real reason is they’re a mix of holiday homes, near ruins, crap properties in crap locations, tangled up in a bunch of legal shit, inheritance proceedings, or the old person that owns it is in care.
There’s a bunch of greed as well, but it’s not worth leaving a property empty over renting it out for an exorbitant sum.
There are many, but one of the reasons is to buy a house in the catchment area of a good school. They child can attend and pretend they are living in the house but still live in the city
Haven’t read the article- does it explain why are there so many empty properties? I didn’t know this was a thing. I’m glad they’re finally coming along with regulations though
The bogeyman reason is investors (and especially Chinese investors).
Suspect the real reason is they’re a mix of holiday homes, near ruins, crap properties in crap locations, tangled up in a bunch of legal shit, inheritance proceedings, or the old person that owns it is in care.
There’s a bunch of greed as well, but it’s not worth leaving a property empty over renting it out for an exorbitant sum.
They’re vehicles for foreign investment.
There are many, but one of the reasons is to buy a house in the catchment area of a good school. They child can attend and pretend they are living in the house but still live in the city